Chinese e-commerce website JD.com is set to unveil an online wealth management platform to expand its presence in Internet finance.
Called Xiaojinku, the new platform will allow users to buy monetary fund products as well as pay for online purchases on JD.com, reported Xinhua News Agency.
The first two fund products which will be available on the new platform are Huoqianbao and Zengzhibao.
According to the new agency, Huoqianbao will be managed by Beijing-based Harvest Fund, while Zengzhibao will be managed by Shenzhen-based Penghua Fund.
T he estimated seven-day annualized rates for the two products were not disclosed.
Liu Changhong, head of financial operation at JD.com, was quoted by Xinhua saying that more products related to Internet finance will be launched in the future.